BlackRock Bitcoin ETF Tops with $3.5B Inflows, Surpassing S&P 500 ETFs
Key Highlights:
- BlackRock's iShares Bitcoin Trust (IBIT) leads spot Bitcoin ETF inflows, reaching $3.5 billion in weekly inflows, accounting for 10% of total net ETF flows.
- IBIT outperformed major S&P 500 ETFs such as SPLG and VOO in net inflows.
- All 11 original spot Bitcoin ETFs, including GBTC, recorded inflows last week, indicating strong institutional demand for Bitcoin exposure.
- On October 7, IBIT had a net inflow of 7,401 BTC valued at approximately $899.47 million, marking the fourth-highest single-day inflow in its history.
- IBIT's daily trading volume surged to $5.7 billion, with holdings close to 800,000 Bitcoin, nearing $100 billion in assets under management.
- IBIT is on track to achieve $100 billion AUM milestone in just 435 trading days, compared to Vanguard S&P 500 ETF's 2,011 days.
Market Outlook:
- Spot Bitcoin ETFs are closely following Bitcoin's price trajectory, which reached all-time highs of $126,000.
- Analysts project strong BTC upside in Q4, potentially driving further ETF inflows.
- Bitwise CIO Matt Hougan anticipates US Bitcoin ETFs will surpass $36 billion debut-year inflows in 2025, with current accumulations around $22.5 billion.
- Year-to-date flows amount to $25.9 billion, with expectations to reach over $30 billion by year-end.